One Year After $55M Acquisition, Galway Companies Adds New Tenants, Advances Major Reinvestment at The Promenade Shops Centerra

Nine new leases totaling more than 37,000 square feet, property-wide renovations and a redesigned ice rink mark the next chapter for the Northern Colorado shopping destination

LOVELAND, Colo., Oct. 06, 2026 (GLOBE NEWSWIRE) -- One year after acquiring The Promenade Shops Centerra for $55 million, Galway Companies, Inc. is advancing a multimillion-dollar, property-wide reinvestment in the 494,500-square-foot open-air shopping center, signing nine new retailers and restaurants as renovations move forward across the property.

Galway acquired The Promenade Shops Centerra in August 2025, marking the Wisconsin-based real estate company’s first investment in Colorado. Since then, the ownership team has focused on a long-term repositioning strategy designed to modernize the property, strengthen its tenant mix and create more reasons for the Northern Colorado community to visit and spend time at the center.

In its first year of ownership, Galway has signed nine new leases totaling 37,643 square feet, building on an established customer base that generates approximately 3.8 million annual visits, more than 70,000 per week, and $109 million in reported tenant sales from September 2025 to September 2026. According to Placer.ai data, the Promenade Shops ranks among the top 8% of shopping centers nationally for visits.

New tenants include MINISO, Christopher & Banks and Windsor opening this fall, followed by JD Sports, Hot Topic, BoxLunch, Cabinet IQ, Hot Pot Grill and Los Dos Potrillos – all anticipated by spring 2027.

“The location and the customer were never in question here,” said Steve Doran, Founding Principal of Galway Companies, Inc. “What the center needed was an owner willing to invest meaningfully in the experience, and that’s exactly what we’re doing. Nine new leases in the first year tells me retailers see the same thing we do. We are leaning into this center and are hyper-focused on building a curated merchandising mix. At the same time, we’re leaning into traditions families in this area have loved for a generation – from ice skating to holiday events and activations.”

Galway’s investment comes amid continued growth and tightening retail availability across Northern Colorado. Adjacent Weld County remains one of the state’s fastest-growing areas, adding nearly 50,000 residents since 2020, a 15% increase, to reach 378,426 residents in 2025, according to U.S. Census Bureau. At the same time, Northern Colorado’s retail vacancy rate fell to just 3.1% in the first half of 2026, down 50 basis points year over year, highlighting strong market fundamentals as Galway continues to invest in the Promenade and attract new retailers.

That investment is becoming increasingly visible across the Promenade, with every building in the center undergoing renovation. Improvements completed or underway include:

New storefront facades, with Famous Footwear reopened in the first completed storefront
A redesigned ice rink scheduled to open in late November 2026
New landscaping along Main Street and updated property lighting
Additional seating and refreshed outdoor gathering spaces
A new monument sign along Interstate 25 and new entrance signage
Property-wide Wi-Fi and enhanced security
New roofing across 10 buildings

The broader streetscape renovation is scheduled for completion in spring 2027.

The Promenade sits at the Interstate 25 and U.S. Highway 34 interchange, within a rapidly evolving regional retail corridor. More than 85,000 vehicles travel I-25 near the property each day, while the center’s trade area includes approximately 370,800 residents, U.S. Census reports. The surrounding retail landscape is also expanding, with Bass Pro Shops now open and Costco, Whole Foods Market and King Soopers planned nearby.

Beyond physical improvements and leasing, Galway is investing in the Promenade as a gathering place, pairing the property’s longstanding traditions with new experiences and programming. This fall and winter will provide some of the first opportunities for the community to experience that evolution. The center’s annual Halloween celebration returns Oct. 25, followed by the opening of the redesigned ice rink in late November and holiday programming including live reindeer, Breakfast with Santa and Photos with Santa in December.

Additional property improvements, tenant openings and community programming will continue into 2027 as Galway advances the Promenade’s long-term repositioning.

For more information about The Promenade Shops Centerra, upcoming events, new tenants and property updates, visit ThePromenadeShopsAtCenterra.com.

For leasing Inquiries:

About The Promenade Shops Centerra

The Promenade Shops Centerra is a 494,500-square-foot open-air shopping, dining and entertainment destination located at the intersection of Interstate 25 and U.S. Highway 34 in Loveland, Colorado. Serving Northern Colorado and the surrounding region, the Promenade welcomes approximately 3.8 million visits annually and features a mix of national retailers, restaurants, entertainment and community experiences. Anchored by Macy’s, Dick’s Sporting Goods, Best Buy, Barnes & Noble and MetroLux Theatres, the Promenade has been a part of the Northern Colorado community for more than 20 years. The property is owned by Galway Companies, Inc., which acquired the center in August 2025 and is advancing a property-wide reinvestment focused on the tenant mix, visitor experience and the Promenade’s next chapter.

About Galway Companies, Inc.

Galway Companies is a privately held, vertically integrated real estate development, construction and property management company based in Monona, Wisconsin. A hands-on, long-term owner focused on continued reinvestment and thoughtful merchandising, Galway owns a 2-million-square-foot shopping center portfolio and multifamily communities across Wisconsin and Colorado, including The Waverly, The Eastern, The Current and Greenway Station in the Madison area. The Promenade Shops Centerra represents Galway’s first investment in Colorado.

Media Contact:
Katrina Salon
Katrina@sidecarpr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4eabc1c9-2f2b-4c8b-acd4-a4625b7f58a4

Promenade Shops Centerra Rendering

Rendering of new improvements at Promenade Shops Centerra

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